ArcelorMittal to finalise divestments this year
ArcelorMittal will have sold off all the plants it needs to divest by the end of this year as part of its Ilva transaction. And more clarity is emerging over the potential outcomes.
Ukrainian steelmaker and mining firm Metinvest and Italian re-roller Marcegaglia have formed a joint venture to acquire the Galati plant in southeast Romania, which has crude steelmaking capacity of about 3mn t/yr and produced 2mn t in 2017.
The synergies for this potential deal are clear. Metinvest is one of the largest suppliers of iron ore to Galati, and Marcegaglia is a big buyer of slab and hot-rolled coil from Metinvest. Marcegaglia has been concerned about captive steel supply, given the continuing trend for mill consolidation and rising import barriers.
Metinvest has also been competing to an extent with Galati in central and eastern Europe.
Marcegaglia is also interested in the Piombino galvanising line in Italy, industry sources say.
Metinvest and ArcelorMittal refused to comment, while Marcegaglia could not be contacted for comment.
ArcelorMittal has packaged up the Dudelange facility in Luxembourg with its hot-dip galvanised lines in Flemalle, and the Tilleur cold-rolling and tinning line for sale to one buyer. It has established a separate company to manage these facilities, according to industry sources.
Salzgitter said earlier this year that it had submitted an offer to acquire the facilities, while there have been suggestions that SSAB has also expressed interest. SSAB did not respond to a request for comment.
source: Argus Media
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
